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Sectoral / Thematic · Nippon India Mutual Fund · AMFI code 101862Nippon India Banking & Financial Services Fund
Disclosed for 64 months, May 2021 to Aug 2026.Published as: NIPPON INDIA BANKING & FINANCIAL SERVICES FUND (An open ended equity scheme investing in Banking & Financial Services Sector)
Portfolio value
₹7,442 Cr
down ₹28.1 Cr vs Apr 2026
- Stocks held
- 37
Nippon India Banking & Financial Services Fund is an active equity fund in the Sectoral / Thematic category from Nippon India Mutual Fund. In May 2026 it disclosed 37 stocks worth ₹7,442 Cr, down ₹28.1 Cr from Apr 2026. Its largest positions were ICICI Bank Limited (12.7%), HDFC Bank Limited (12.6%), Axis Bank Limited (9.4%); the ten largest together made up 58.7% of the portfolio, and Banks was the biggest sector at 50.9% of its equity. Cash and debt stood at 1.8%. Compared with Apr 2026 the fund entered 1 new stock and exited 1.
Against 229 other Sectoral / Thematic funds
Concentration
79%
Top-10 weight is higher than 79% of peers
Breadth
35%
Holds more stocks than 35% of peers
Cash
27%
Holds more cash than 27% of peers
What these mean: concentration · cash
Holdings in May 2026
Download CSVEvery line the fund disclosed, with the change against Apr 2026. Click a column to sort; click a company to see every fund that owns it. New to these? How to read a portfolio.
| ICICI Bank Limited | 12.73% | down 0.02 pts | ₹947 Cr | down ₹5.3 Cr | Trimmed |
| HDFC Bank Limited | 12.63% | down 0.41 pts | ₹940 Cr | down ₹34.3 Cr | Trimmed |
| Axis Bank Limited | 9.35% | up 0.17 pts | ₹696 Cr | up ₹9.9 Cr | Added |
| State Bank of India | 5.40% | down 0.56 pts | ₹402 Cr | down ₹43.3 Cr | Trimmed |
| Kotak Mahindra Bank Limited | 3.55% | up 0.02 pts | ₹264 Cr | up ₹62 L | Held |
| SBI Life Insurance Company Limited | 3.29% | up 0.01 pts | ₹245 Cr | down ₹43 L | Held |
| SBI Cards and Payment Services Limited | 3.27% | down 0.09 pts | ₹243 Cr | down ₹7.6 Cr | Trimmed |
| Bajaj Finserv Limited | 3.06% | up 0.07 pts | ₹228 Cr | up ₹4.6 Cr | Added |
| Multi Commodity Exchange of India Limited | 2.74% | down 0.01 pts | ₹204 Cr | down ₹1.2 Cr | Trimmed |
| Cholamandalam Financial Holdings Limited | 2.72% | up 0.05 pts | ₹202 Cr | up ₹3.3 Cr | Added |
| IndusInd Bank Limited | 2.66% | up 0.01 pts | ₹198 Cr | down ₹37 L | Held |
| ICICI Prudential Asset Management Company Limited | 2.54% | up 0.19 pts | ₹189 Cr | up ₹13.3 Cr | Added |
| Max Financial Services Limited | 2.51% | up 0.14 pts | ₹187 Cr | up ₹9.9 Cr | Added |
| Equitas Small Finance Bank Limited | 2.03% | up 0.10 pts | ₹151 Cr | up ₹7.2 Cr | Added |
| Star Health And Allied Insurance Company Limited | 1.88% | up 0.16 pts | ₹140 Cr | up ₹11.1 Cr | Added |
| Cash, TREPS & receivables | 1.83% | down 0.59 pts | ₹136 Cr | down ₹44.4 Cr | Trimmed |
| Aye Finance Limited | 1.80% | up 0.16 pts | ₹134 Cr | up ₹11.6 Cr | Added |
| Angel One Limited | 1.77% | up 0.16 pts | ₹132 Cr | up ₹11.2 Cr | Added |
| L&T Finance Limited | 1.67% | down 0.10 pts | ₹125 Cr | down ₹8.2 Cr | Trimmed |
| AU Small Finance Bank Limited | 1.67% | down 0.05 pts | ₹124 Cr | down ₹3.9 Cr | Trimmed |
| Bajaj Finance Limited | 1.65% | down 0.05 pts | ₹122 Cr | down ₹3.9 Cr | Trimmed |
| KFin Technologies Limited | 1.61% | up 0.18 pts | ₹120 Cr | up ₹12.6 Cr | Added |
| HDFC Asset Management Company Limited | 1.57% | down 0.02 pts | ₹117 Cr | down ₹1.7 Cr | Trimmed |
| PNB Housing Finance Limited | 1.46% | down 0.16 pts | ₹109 Cr | down ₹12.1 Cr | Trimmed |
| UTI Asset Management Company Limited | 1.44% | down 0.01 pts | ₹107 Cr | down ₹1.1 Cr | Trimmed |
| ICICI Prudential Life Insurance Company Limited | 1.43% | up 0.12 pts | ₹107 Cr | up ₹8.7 Cr | Added |
| DDB DEWAN HSG FINANCE CORPORATION LTD Piramal Finance Limited · history in this fund | 1.43% | up 0.08 pts | ₹106 Cr | up ₹5.2 Cr | Added |
| Pine Labs Limited | 1.36% | up 1.36 pts | ₹101 Cr | up ₹101 Cr | New |
| Power Finance Corporation Limited | 1.35% | down 0.06 pts | ₹101 Cr | down ₹4.7 Cr | Trimmed |
| ICICI Lombard General Insurance Company Limited | 1.32% | up 0.03 pts | ₹98.6 Cr | up ₹1.6 Cr | Added |
| HDFC Life Insurance Company Limited | 1.30% | up 0.02 pts | ₹96.6 Cr | up ₹1.3 Cr | Added |
| Aptus Value Housing Finance India Limited | 1.05% | up 0.07 pts | ₹78.4 Cr | up ₹5.3 Cr | Added |
| One 97 Communications Limited | 1.02% | up 0.02 pts | ₹75.9 Cr | up ₹1.6 Cr | Added |
| Aavas Financiers Limited | 0.72% | down 0.02 pts | ₹53.7 Cr | down ₹1.5 Cr | Trimmed |
| Poonawalla Fincorp Limited | 0.68% | down 0.06 pts | ₹50.9 Cr | down ₹4.6 Cr | Trimmed |
| Sundaram Finance Limited | 0.60% | down 0.05 pts | ₹44.4 Cr | down ₹3.7 Cr | Trimmed |
| HDB Financial Services Limited | 0.52% | up 0.01 pts | ₹38.5 Cr | up ₹53 L | Added |
| Seshaasai Technologies Limited | 0.38% | up 0.03 pts | ₹28.2 Cr | up ₹2.2 Cr | Added |
What changed, Apr 2026 to May 2026
New New positions (1)
- Pine Labs Limited1.4% · ₹101 Cr
Exited Exited (1)
- The Federal Bank Limitedwas 0.9% · ₹68.9 Cr
Added Biggest additions
- ICICI Prudential Asset Management Company Limitedup ₹13.3 Cr (+0.19% pts)
- KFin Technologies Limitedup ₹12.6 Cr (+0.18% pts)
- Aye Finance Limitedup ₹11.6 Cr (+0.16% pts)
- Angel One Limited
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Apr 2026, the weight rose most in Financial Technology (fintech) (+1.4 pts) and Capital Markets (+0.4 pts), and fell most in Banks (−2.0 pts) and Finance (−0.3 pts).
- Financial Technology (fintech)1.4% → 2.8%+1.4 pts
- Capital Markets11.5% → 11.9%+0.4 pts
- Insurance11.5% → 12.0%+0.4 pts
- Banks53.0% → 50.9%−2.0 pts
- Finance22.7% → 22.4%−0.3 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | May 2023 | May 2025 | Nov 2025 | Feb 2026 | Apr 2026 | May 2026 |
|---|---|---|---|---|---|---|
| Banks | 61.3% | 65.2% | 63.4% | 59.5% | 53.0% | 50.9% |
| Finance | 23.6% | 16.2% | 17.7% | 18.7% | 22.7% | 22.4% |
| Insurance | 9.2% | 9.7% | 9.9% | 10.5% | 11.5% | 12.0% |
| Capital Markets | 5.9% | 7.5% | 7.7% | 10.2% | 11.5% | 11.9% |
| Financial Technology (fintech) | — | 1.4% | 1.3% | 1.1% | 1.4% | 2.8% |
Allocation in May 2026change vs Apr 2026
- Banks (8)50.9%▼ 2.0 pts
- Finance (14)22.4%▼ 0.3 pts
- Insurance (6)12.0%▲ 0.4 pts
- Capital Markets (6)11.9%
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal. More on reading cash.
Cash & debt, May 2026
1.8%
▼ 0.6 pts vs Apr 2026
- Cash alone
- 1.8%
- cash and net receivables
- A year earlier
- 1.6%
- May 2025 · now ▲ 0.2 pts
- Last 12 months
- 1.4% – 3.0%
- lowest to highest · record 5.0% in Jul 2023
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.